There is a good chance that there will be a solution to the Ripple lawsuit against the SEC. This trial has been going on for several years now. It is in this context that Ripple’s general counsel warned of the impact of this decision on the future of cryptos in the United States.
Who has the right to regulate cryptocurrencies?
This is the question that pits the SEC against players in the crypto industry. Responding to a Bloomberg article on the matter, Stuart Alderoty, general counsel for Ripple said: “No matter how you dissect it, the experts agree. The outcome of the Ripple case will likely have a significant impact on the future of crypto in the United States. »
According to DailyHodlhe said that: “There is a misconception that players in the crypto space don’t want regulation, and I think responsible players in the crypto space actually want regulation. The reason they want regulation [est parce que] it’s good for their business, it’s good for their customers, it’s good for the markets. The way you do that is through clear regulations.
Clear regulations, applied consistently, lead to predictable results, and predictable results are good for everyone. If you don’t know what the law requires, you can’t comply with the law. And the law applied inconsistently leads to unpredictable results. »
What is the future of Ripple after the Ripple lawsuit against the SEC?
There is a good chance that the verdict of the Rippel lawsuit against the SEC will be known before the end of the first half of 2023. At the moment, Ripple is the sixth largest cryptocurrency in terms of market capitalization. According to Coinmarketcap, it would be around 20 billion USD. Besides, Ripple receives a lot of support from users and the crypto community. So, in response to Alderoty’s tweet, Crypto Asset Guy replied: “To All Crypto Holders: If You’re Not Rooting For RIPPLE, You Don’t Deserve To Be In Crypto”.
Since 2020 when the Ripple lawsuit against the US stock market policeman began, crypto has been holding up. If the lawsuit concludes in its favor, could Ripple reach a capitalization equivalent to that of Ethereum ?
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